Madison times. (Tallulah, Madison Parish, La.) 1884-1???, 1887-08-27
The Real Estate Boom.


Country Bradstreets Journal. New
York business publication gives spe-
cial reports from % cities showing a
large advance in prices of real estate.
not only in the West but also in the
East. The statement s very COM
prehensiye and indicates that boom
in real estate throughout the country
will be very generally felt before the
close OF che year. The causes OF the
real estate boom Bradst reefs believes
are briefly the revival in general trade
and the investment OF funds which
have been locked up for several years
past awaiting investment. These in
vestments have naturally led to spec
ulation and to a general rise in prices.
From the careful special reports in
Bradstreet's s from the various cities
We CLEAN the following interesting 2
| facts.
The rise in New York has been uni
tormly upward since 1879. In Brook
lyn activity is principally confined to
| the outlying wards, where real estate
has advanced from 30 to 60 per cent.
In Philadelphia the boom owes its
inspiration very largely to the bust
ness depression prevailing four years
ago. In Boston there has been steady
demand at fair value for several years
and the northern suburbs have had n
special growth with an inadequate
supply ofdetached houses. In Chicago
during the last three years OF depres-
sion in general business realty has been
active and strong. In st Louis busi-
ness property centrally located shows
an advance of 20 to 80 per cent, and
property in the suburbs is in general
request. In Duluth, Mimi, suburban
property has shown the greatest in
crease, advancing from 100 to 200
per cent for lands situated from
one to three miles from the
city. The boom at Fort
Smith Ark, was caused by railroad
extensions recently made, and the de-
mand has been mainly for suburban
property. At st. Joseph, Mo-, spec.
ulation in real estate reached its max
imum height during February last and
was caused by investment by pro nj
nent business men in real estate ad-
joining the city limits. In Rome, Ga,
the rise In real estate resulted from the
building of new lines OF railroad and
the influx OF capital which has engaged
in developing the mineral resources.
In Louisville an organization OF citl-
zens has forwarded the improvement
in realty value with excellent results.
In Cleveland prices have increased
about 20 per cent for desirable buSl-
ness locations, ard in the suburbs
have advanced considerably. A rise
of 80 to 40 per cent in tarm lands in
the vicinity OF Columbus, Ohio, is no.
ticed, and in Minneapolis the greatest
relative speculative activity OF late
has been shown in suburban prop
erty. The population of Minneapolis
in 1850 was 5000. 1t is now esti-
mated at 1o0, 900 and is still rapidly
increasing. In Richmond, Va, active
speculation in real estate began about
six months ago and extends through
out the entire city and suburbs. In
Cincinnati the advance in real estate
commenced about q year ago ard
successful effort toward substantially
improving the city streets was lac
tor in the improvement. Increased
numbers of fine suburban residences
are in course OF erection. In Daven-
port, Iowa, real estate had heen very
low since 1879. The growth OF the
city has led to a growth in real estate
values. The boom in Kansas City,
Mo-, has been continuous for the past
three years with more than three
fourths OF the capital invested COM
ing from the East. Suburban prop
erty from one to three miles from the
city cannot be bought except IN one
or two cases for less than double the
valuation of 12 month"; since. The
boom in Birmingham, Ala, began a
year ago and has steadily grown,
with an outflow OF population and
construction OF railroads as factors.
Business lots worth IN January, 1856,
$1,000 are worth 81 -, 5,0OO,aud build
ing lots have advanced from 81, 800
to SO, 500. At Chattanooga, Tenn,
decided rise in real estate was noticed
about the middle OF December, 1886,
caused bv the unexampled growth OF
the city, it's population doubling be-
tween 1878 and 1888 and again be-
tween 1883 and 1886. Activity in
reality has been very marked in SUI
burban tracts. At Wichita, Kansas,
its adoption as the centre OF rich az
ricultural section and a railroad cen
tre has given it great activity. Busi-
ness lots on the heprincipal streets which
sold for $4,000 three years ago are
now worth $4,000, Some families
are living in tents awaiting the COM
pletion OF houses. Three thousand
houses will be erected during this year.
In Nashville, Tenn, real estate specu-
lation began last fall, first in vacant
lots and then extended to improved
property. 1t was caused by the or
ganization OF new manufacturing in
dustries. At st. Paul, Minn., rise
began the latter part of September,
1886. From S4OO to 5000 per front
foot was then charged for choice busi-
ness property Now from 800 to
81, 200 is asked.